Half of larger firms review employee benefits annually

More than half of organisations with 1,000-plus staff review the benefits they offer on an annual basis, according to research by Legal and General.

The research found that two-fifths of organisations with between 10 and 100 staff do not plan to review the benefits they offer to staff in the foreseeable future.

Nearly four-fifths of these small organisations said they offer the bare minimum of employee benefits or just enough to attract and retain valued staff.

More than half of employers with more than 250 staff said they offer above average employee benefits to attract staff.

Diane Buckley, managing director of Legal and General, said: “These figures show that employers should ensure that good-quality support is available in the workplace to help employees.

“It is concerning that nearly two-fifths of small firms aren’t reviewing their employee benefits regularly, because employee benefits are critical to attract and retain staff.

Read more research on employee benefits